Hot Deals On Chryslers!

With the 785 plus Chrysler dealerships closing there could be a whole lot of deals coming your way. That’s because these dealers getting cut from Chrysler need to get these cars off their lots by June 9th. After that date they will no longer be approved to sell a brand new Chrysler. Some of these dealers have huge inventories, which they own. The loses to these dealerships could be in the high thousands.

In case if you don’t understand how a dealership works here’s a short look into it. The dealers purchase these cars from the manufactures, with loans. These loans payments they pay off when the car sells. The dealer doesn’t have to pay on the loan, but they nee to pay the interest, which is running up on the unsold cars. So you can see why these dealers that are being dropped are going to really feel it come June.

So now is the time to by a Chrysler, if you like them. The deals are going to be huge, starting right now. The longer you wait, there better the deal, but the selection may be low. I would say get out and look, if you like the car or truck toss in a low ball offer, who knows, they might take it.

Banks And Credit!

As most of you already know that the U.S. Government did a stress test on all the largest banks in the U.S. This stress test has been coming out in waves of information. When the stress test was done the U.S. Government stated that they where not going to release all the information. Then the public stated to think that these banks where in more trouble than we all thought. So they started to release some of the information, only the good things. Then they stated to release some bad information, like most of the banks still had to raise billions of dollars to make it through these hard times. Now today the U.S. Government is stated that most of the biggest banks are still in trouble of losing billions in credit card debt. The Government is expecting the jobless rate to reach 10 percent by years end. And when that happens they feel that 20 to 23 percent of all credit card debt will go sour. And the loss on that would be almost $83 billion. Other experts feel that number is way off. They feel that the real lost would be around $142 billion and could go as high as $185 billion. These experts say that banks have already sold off a lot of it’s credit card debt, which the Government hasn’t included this debt as credit card debt. The banks won’t feel that lose, investors will. Which could drag down the World Markets, which would put us back where we where a few months ago. Hopefully jobs will increase or slow and we won’t get to that point again.

GM And Bankruptcy!

I have no idea why General Motors Corp. is dancing around the fact that bankruptcy is going to happen to them come June 1st. They keep stating that their hoping to restructure without court protection. What I think is happening is that their getting their paper work in order to file for court protection. They have to, there’s no way the deal their trying to do with their debt will work. Their trying to get the bond holders and auto workers union to take 10 percent of the company in exchange for $27 billion debt. Who in their right mind would take that offer. And there’s no way Obama is going to bond holders to agree to it. Just look what happen to Chrysler, the bond holders told Obama no way. So no one be surprise when June 1st comes and General Motors files for chapter 11, it will happen.